| GENERAL INSURANCE CORPORATION OF INDIA |
| Registration No. 112 |
| Date of Registration with IRDAI : 2nd April, 2001 |
| CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2017 |
| |
Particulars |
Schedule |
Current Year |
Previous Year |
| |
|
|
(` '000) |
(` '000) |
| 1. |
Operating Profit/-Loss |
|
|
|
| |
(a) Fire Insurance |
|
6,876,758 |
7,490,694 |
| |
(b) Marine Insurance |
|
3,854,397 |
4,582,460 |
| |
(c) Miscellaneous Insurance |
|
16,360,994 |
3,800,651 |
| |
(d) Life Insurance |
|
(1,094,710) |
702,801 |
| 2. |
Income from Investments |
|
|
|
| |
(a) Interest, Dividend & Rent - Gross |
|
9,545,328 |
8,317,204 |
| |
(b) Profit on sale of Investments |
|
5,784,575 |
5,087,417 |
| |
Less: Loss of sale of Investment |
|
- |
- |
| 3. |
Other Income: |
|
|
|
| |
Forex Gain/( Loss) |
|
11 |
777,981 |
| |
Profit on sale of Assets (Net) |
|
- |
- |
| |
Sundry Balances Written Back (Net) |
|
- |
- |
| |
Interest on Income-tax Refund |
|
166,816 |
- |
| |
(Provision) / Doubtful Debts written back |
|
- |
1,573,298 |
| |
Miscellaneous Receipts |
|
14,381 |
23,340 |
| |
Total (A) |
|
41,508,550 |
32,355,846 |
| 4. |
Provision for Doubtful Loans & Investment |
|
293,993 |
420,091 |
| 5 |
(Provision) for Doubtful Debts written back |
|
2,305,578 |
- |
| 6 |
Amortisation of premium on Investments |
|
185,152 |
185,605 |
| 7 |
Diminution in the value of investments written off |
|
556,439 |
1,359,916 |
| 8 |
Other Expenses : |
|
|
|
| |
Expenses relating to Investments |
|
17,318 |
13,752 |
| |
Loss on Exchange |
|
|
229,905 |
- |
| |
(Profit)/Loss on sale of Assets (Net) |
|
2,223 |
223 |
| |
Sundry Balances Written off (Net) |
|
- |
- |
| |
Interest & Others |
|
56,293 |
7,519 |
| |
Corporate Social Responsibility Expenses |
|
160,272 |
490,936 |
| |
Total (B) |
|
3,807,173 |
2,478,042 |
| |
Profit Before Tax |
|
37,701,377 |
29,877,804 |
| |
Provision for Taxation : |
|
|
|
| |
Current Tax |
|
6,620,000 |
5,123,792 |
| |
Wealth Tax |
|
- |
- |
| |
MAT Credit |
|
(1,442,537) |
(1,884,959) |
| |
Deferred Tax |
|
(109,196) |
150,425 |
| |
Provision for Tax in respect of earlier years |
|
(224,937) |
(101,341) |
| |
MAT Credit of earlier year |
|
119,319 |
(2,205,632) |
| |
Profit After Tax |
|
32,738,728 |
28,795,519 |
| |
Share of Profit in Asoociates Companies |
|
3,977,124 |
1,373,349 |
| |
Profit for the year |
|
36,715,852 |
30,168,868 |
| |
Appropriations |
|
|
|
| |
(a) Balance brought forward from last year |
|
12,179,002 |
10,493,923 |
| |
(b) Interim dividend |
|
- |
- |
| |
(c) Proposed Final dividend |
|
- |
8,600,000 |
| |
(d) Dividend distribution tax |
|
- |
1,750,788 |
| |
(e) Transfer to General Reserve |
|
- |
18,133,000 |
| |
Balance carried forward to Balance Sheet |
|
48,894,858 |
12,179,002 |
| |
Basic and Diluted EPS |
|
8.54 |
7.02 |